Answers (9)
- John Barker, "john_barker"
- Contributions:12
One thing people are often not clear on is the difference between bank owned or REO properties and buying a foreclosure.
A foreclosure is purchased at auction Friday mornings at the courthouse for cash, as-is with all sales being final.
Bank owned or in industry terms "REO's" are held in title by the mortgage lender after forfeiture from a borrower.
Some of the homes are often listed traditionally in the local Multiple Listing Service, or area available for sale directly from the lender.
These transactions often have untraditional nuances involved, so it is beneficial to have the assistance of an agent familiar with the same. When selecting someone to assist, ask poignant questions about their experience as a buyer's representative and professional credentials.
A foreclosure is purchased at auction Friday mornings at the courthouse for cash, as-is with all sales being final.
Bank owned or in industry terms "REO's" are held in title by the mortgage lender after forfeiture from a borrower.
Some of the homes are often listed traditionally in the local Multiple Listing Service, or area available for sale directly from the lender.
These transactions often have untraditional nuances involved, so it is beneficial to have the assistance of an agent familiar with the same. When selecting someone to assist, ask poignant questions about their experience as a buyer's representative and professional credentials.
- Geordy Rostad, "geordy"
- Contributions:991
Ms. Ladd,
I would have to agree with NWHome.us. Oftentimes you can get as good, if not better of a deal on an overpriced home on the open market simply because it has been marketed wrong or no one else has made and offer on it so don't ignore the open market.
If you ARE interested in foreclosures, there are several different steps of the process which offer buying opportunities for savvy buyers. One of my favorites is at the auction house since that is the quickest way to obtain these properties and can be the lowest prices as well. There is a group that meets at my Kirkland Windermere office every Tuesday and Thursday night and discusses these properties as well as assisting buyers in the purchase process. There is more information at www.vestus.com
I would have to agree with NWHome.us. Oftentimes you can get as good, if not better of a deal on an overpriced home on the open market simply because it has been marketed wrong or no one else has made and offer on it so don't ignore the open market.
If you ARE interested in foreclosures, there are several different steps of the process which offer buying opportunities for savvy buyers. One of my favorites is at the auction house since that is the quickest way to obtain these properties and can be the lowest prices as well. There is a group that meets at my Kirkland Windermere office every Tuesday and Thursday night and discusses these properties as well as assisting buyers in the purchase process. There is more information at www.vestus.com
- Steve Stockman, "SteveStockman"
- Contributions:2
Hello Ms. Ladd,
You are on the right track by exploring distressed property and finding a specialist to guide you. There are a lot of great opportunities out there! I am one of the few "Certified Distressed Property Experts" with referral customers who can provide you with testimonials. Check out my website at www.stevestockmancdpe.com. I encourage you to phone interview 2-3 Realtors.
Best Wishes!
Steve
You are on the right track by exploring distressed property and finding a specialist to guide you. There are a lot of great opportunities out there! I am one of the few "Certified Distressed Property Experts" with referral customers who can provide you with testimonials. Check out my website at www.stevestockmancdpe.com. I encourage you to phone interview 2-3 Realtors.
Best Wishes!
Steve
- Arnold Camps, "Arnold Camps"
- Contributions:164
Hi Ms. Ladd,
My organization specializes in short sales, bank owned and creative investing. We also contribute a percentage of our profits to First Place School. A non profit organization that assist families transitioning out of homelessness. Some of the families that we help fall into the hands of First Place School.
Check out our website and connect with us when the time comes to making your next purchase.
Good luck and take care
My organization specializes in short sales, bank owned and creative investing. We also contribute a percentage of our profits to First Place School. A non profit organization that assist families transitioning out of homelessness. Some of the families that we help fall into the hands of First Place School.
Check out our website and connect with us when the time comes to making your next purchase.
Good luck and take care
- Angela Hardy, "AngelaHardy"
- Contributions:339
The best strategy is to look at all the available homes in your price range and with the features you are seeking in a new home. Foreclosure, short sale, for sale by owner, "regular" sale - should not matter as long as you find the home that will work for you! So just ask the agent you choose to work with if they are willing to show you all the available inventory - and not steer you clear of any one category.
- Tonya Brobeck, "Tonya Brobeck"
- Contributions:637
Do you have a specific neighborhood or area in Seattle that is of interest to you?
- Sam DeBord, "SeattleHome.com"
- Contributions:3471
Hi Ms. Ladd,
Here's a nice list of Seattle foreclosures / bank-owned homes that you can take a look into. There are a lot of great agents on here who can help you find a foreclosure in Seattle here, so I'll just leave you with a list of homes for now. Let me know if you need anything else.
Good luck.
Here's a nice list of Seattle foreclosures / bank-owned homes that you can take a look into. There are a lot of great agents on here who can help you find a foreclosure in Seattle here, so I'll just leave you with a list of homes for now. Let me know if you need anything else.
Good luck.
- John Stewart, "nwhome.us"
- Contributions:2568
Why are you focusing on homes in the foreclosure process or bank owned?
What if you could get a home on the open market at the same discount? would that interest you?
What if you could get a home on the open market at the same discount? would that interest you?
- Beth Grotelueschen, "bethghomes"
- Contributions:852
I am currently helping my clients buy a bank owned foreclosed home right now & have done several short sales, bank owned & pre-foreclosure properties. I'd be glad to speak with you & your husband to see if I can help you as well. Please send me an e-mail: beth@bethghomes.com or call me at 206-852-6846.
Good luck to you...
Good luck to you...
do you have foreclosure specialists in Seattle that could help my husband and I purchase a home?
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